Distribution Finalisation Announcement - Quarter Ended 31 December 2015 - STX40 Satrix Managers (RF) (Pty) Ltd SATRIX 40 PORTFOLIO JSE code: STX40 ISIN code: ZAE000027108 ("Satrix 40") A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 DISTRIBUTION FINALISATION ANNOUNCEMENT – QUARTER ENDED 31 DECEMBER 2015 The manager and trustees of the Satrix Collective Investment Scheme (being Satrix Managers (RF) (Pty) Limited and Standard Chartered Bank), respectively, have declared a distribution to holders of Satrix 40 securities recorded in the register on Thursday, 31 December 2015 in respect of the quarter ended 31 December 2015 as follows: An aggregate amount of 25.89 cents (R0.2589) per Satrix 40 security constituted as follows: Net Local dividend per security (1) 12.05958 Dividend withholding tax on local dividend (15%) 2.12816 Net Foreign dividend per security (2) 4.24564 Dividend withholding tax on foreign dividend (15%) 0.74923 Foreign dividend (0% SA tax) (3) 5.26802 REIT dividend (4) 1.32745 Interest (positive cash balances)(a) 0.11192 TOTAL DISTRIBUTION 25.89000 a No withholding tax on interest is applicable as interest has solely been earned from a South African Bank. 1 NET LOCAL DIVIDEND Gross dividend (cents per security) 14.18774 Dividend withholding tax (15% on taxable dividend) - 2.12816 Net dividend per security 12.05958 2 NET FOREIGN DIVIDEND (Foreign-dual listed shares) Gross dividend (cents per security) 4.99487 Dividend withholding tax (15% on taxable dividend) - 0.74923 Net dividend per security 4.24564 3 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate) Gross dividend (cents per security) 10.62188 Foreign dividends withholding tax (33.92% on taxable - 3.60255 dividend) 7.01933 Less portfolio costs - 1.75131 Distributable dividend 5.26802 SA Dividend withholding tax Gross dividend 10.62188 Less portfolio costs - 1.75131 8.87057 SA DWT 1.33059 SA tax 1.33059 cents (15%) will not be deducted as foreign dividend withholding tax has already been deducted (SECTION 64N) 4 REIT DIVIDEND Gross REIT dividend 1.32745 Dividend withholding tax (15% applicable to foreign holders) - 0.19912 Net REIT dividend 1.12833 No dividend tax is applicable for SA resident securities holders on the REIT income. Dividend tax of 15 % is applicable for non-resident shareholders on the REIT income. The dividend tax deducted will be paid as follows: 1. To the South African Revenue Service in respect of holders that are not exempt from dividends tax; 2. Holders that are exempt from dividends tax or holders qualifying for a reduced rate per Double Tax Agreement (“DTA”) will receive the appropriate dividend from their intermediary provided they have completed and lodged the relevant exemption or reduced rate prescribed application form timeously with their service provider. The responsibility to make such submissions is that of the security holder and failure to do so may result in dividends tax being deducted in full. The payment will be made by the relevant intermediary, being the Central Securities Depository Participant (“CSDP”) or Broker nominee company which is the final regulated intermediary in terms of the Income Tax Act. Payment will be effected on 26 January 2016 to all holders of Satrix 40 securities recorded in the register on Thursday, 31 December 2015. 19 January 2016 Sponsor: Vunani Corporate Finance Date: 19/01/2016 03:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.